This follows the successful reverse circulation drilling programme, which led to the high-grade M3 gold discovery.
Initial results from the prospect were announced last month from shallow wide-spaced RC drilling. RC holes TAC0995 and TAC0996 were drilled directly beneath a 13g/t gold auger sample with TAC0995 ending in mineralisation grading 6m at 1.88g/t of gold from 40m while TAC0996 intercepted the same zone down-dip returning 32m at 5.02g/t of gold including 13m at 7.14g/t of gold from 2m.
Initially diamond drilling will focus on providing structural data relating to the orientation of mineralisation, as well as important information on lithology and alteration. Follow-up RC drilling will also target mineralisation recently drilled at the M1 prospect. The company intends to continue drilling throughout the current field season, targeting an increase to the projects mineral resources.
Recently discovered gold mineralisation at the M1 and M3 prospects is currently not included in the project resource inventory. Significant results from the current drilling program will be modelled and incorporated in a resource update later this year. Any additional higher grade oxide tonnes will have a positive impact on the project economics.
Recent results from RC drilling targeting oxide mineralisation at M1 and M3 include:
- TAC0657: 8m at 1.45g/t Au from 25m, ending in mineralisation
- TAC0658: 6m at 1.32g/t Au from 21m, ending in mineralisation
- TAC0856: 10m at 1.04g/t Au including 1m at 5.04g/t Au from surface
- TAC0887: 10m at 1.44g/t Au from 8m, including 2m at 4.92g/t Au ending in mineralisation
- TAC0891: 9m at 7.8g/t Au from 8m, including 4m at 16.93g/t Au ending in mineralisation
- TAC0995: 6m at 1.88g/t Au from 40m ending in mineralisation
- AC0996: 32m at 5.02g/t Au including 13m at 7.14g/t Au from 2m
The company is fully funded by Macquarie Bank to complete a feasibility study for a heap leach starter project. The company completed an updated prefeasibility study report for an oxide heap leach starter project on its Mankarga 5 gold project, Burkina Faso in May 2015, with the study expected to be completed in the fourth quarter of 2015.
Follow-up RC drilling is planned to recommence following the recent wet-season in October 2015.
The company has also been working on the permitting aspects for the heap leach starter project. The company will lodge applications for the mining licence and environmental permits this month.
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